Curious about crypto, but find the jargon a bit overwhelming?

Oh well, you’re not alone—don’t worry. Because we

Here’s a guide that breaks down all the key terms you need to navigate the crypto world, from "blockchain" to "HODL." We’ll keep adding new ones as Web3 evolves, so check back often!

LFGO 👇

Beginner Terms

Decentralized: No central authority—just a network of users working together. Think of it as a community-run system that’s transparent, secure, and fair. But hey, it has its own challenges too, like scalability and efficiency.

Blockchain: Imagine a digital ledger that’s shared across many computers. That’s blockchain! It tracks transactions in a secure, decentralized way. And it’s not just for crypto—it’s the backbone of Web3 tech.

Cryptocurrency: Digital money secured by cryptography. It’s all about secure transactions and cutting out middlemen.

Cryptography: The art of keeping secrets! It scrambles info so only those with the right key can read it.

Fiat: No, we’re not talking here about FIAT cars. Fiat is a tearm your regular, government-issued currency (like USD or EUR). Only valuable because the government says so—subject to inflation.

Wallet: A digital tool (or device) to store, send, and receive crypto. Simple as that. We’ll mention a few most popular ones below.

Bitcoin (BTC): The OG of cryptocurrencies! Like digital gold, it runs on a decentralized ledger. Wanna know more? Check out the Bitcoin whitepaper!

Altcoin (alts): Any crypto that’s not Bitcoin. Think Ethereum, Litecoin, etc.

Ethereum (ETH): It’s more than just a coin! Ethereum is a whole ecosystem where people build apps, run smart contracts, and create tokens—without needing banks or middlemen. Ether (ETH) is the native token of the Ethereum blockchain that  powers transactions and apps on the network.

The main difference between BTC & ETH is that Bitcoin is designed to provide an alternative to physical or fiat currency while Ethereum is intended for complex smart contracts and decentralized applications.

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Bitcoin maximalists: The biggest discussion in the crypto world is BTC vs ETH. Bitcoin maximalism is an idea that Bitcoin is the only valuable cryptocurrency in existence. According to Bitcoin maximalists (Bitcoin Maxis - crypto slang for individuals who hold this belief) Bitcoin is the only cryptocurrency – or more accurately, currency– that will be needed in the future.

Crypto Exchange: A platform to buy, sell, or trade crypto. Some popular names are Coinbase, Binance, and Kraken.

Gas fee: Gas fees are transaction costs on the Ethereum blockchain, paid in Ether (ETH) or its fraction, gwei. It’s like paying a toll to use the network.

Public key (Wallet address): Your wallet’s public address on the blockchain. Looks like a really long number with letters, but without spaces. If someone needs to send you crypto, you share this wallet’s public address with them.

Private key: Your secret access key. Never ever share this! It’s like your password to your wallet!

Seed phrase: A set of 12-24 random words that lets you recover your wallet. Keep it safe and don’t lose it!

Fungible: Interchangeable items (like cash or oil).

Non-fungible: Unique items (like art, collectibles, or NFTs).

NFT: Non-fungible token. A digital certificate proving ownership of a unique asset, whether digital or physical.

Token: A digital asset that can be used for investment or utility. Tokens live on a blockchain and have various uses.

Coin: Independent digital currency. Coins run on their own blockchains and function like traditional currency.

Mining: Using computer power to create (to ‘mine’) new crypto, and help secure the blockchain. This involves validating cryptocurrency transactions on a blockchain network and adding them to a distributed ledger.

Advanced Terms

Smart contract: A self-executing digital contract on a blockchain. Think of it like a vending machine—automatic, reliable, and transparent.

DAO: Decentralized Autonomous Organization. A system of hard-coded rules that define which actions a decentralized organization will take. It’s managed by code, not people, and governed by its users. It’s like a digital co-op!

MetaMask: A popular wallet to access Ethereum-based dapps right from your browser or phone.

Dapps: Decentralized apps that live on the blockchain, free from central control and censorship.

DEX: Decentralized exchange; a  peer-to-peer way to trade crypto—no middlemen required.

Proof of Work (PoW): A consensus mechanism where miners solve puzzles to validate transactions. Energy-intensive but secure. Bitcoin is a proof-of-work digital currency.

Proof of Stake (PoS): A greener alternative to PoW where validators are chosen based on how much they stake in the network. Ethereum was PoW,  but switched to PoS in 2022.

Airdrop: Free tokens given out by projects to raise awareness and encourage adoption.

Fork: No, it’s not the tool that Ariel uses to brush her hair 😄 Fork or forking is an update to the blockchain’s rules. It can lead to two separate chains (hard fork) or stay compatible with the old one (soft fork).

Bear market: When prices on the crypto market are on the decline.

Whitepaper: A doc explaining a crypto project’s purpose, tech, and roadmap. It’s like a project’s pitch to the world! Most popular is the Bitcoin whitepaper.

Whale: Crypto whale is someone with a massive amount of crypto in their wallet. There are popular Twitter accounts such as Whale Alert, a tracker and analytics system reporting large and interesting transactions as they happen.

Dogecoin: The meme-coin that took the world by storm. Started as a joke, but it has a loyal community and some celebrity fans. Some announce it as a ‘meme coin king’ among memem coins.

Memecoin: Cryptocurrency that is often inspired by internet memes or trends. Memecoins are typically supported by enthusiastic online communities and are generally intended to be light-hearted and fun.

Bull market: When crypto prices on market are rising.

IGO: Initial Game Offering. Early access to in-game assets while supporting a game’s development.

Burn: The process of permanently removing tokens from circulation to decrease supply. (eg. Ethereum burn process reduces the total supply of ETH in circulation)

Names you should know

Satoshi Nakamoto: The mysterious creator of Bitcoin. Nobody knows who he or they really are!

Vitalik Buterin: Co-founder of Ethereum and a big brain behind smart contracts.

Neroli: Your go-to Web3 marketing agency that’s helping brands blossom in the crypto world.  (shameless plug 🌸)

Web3 Social Media Lingo

GM: Good morning, crypto fam!

NGMI: Not gonna make it. Usually said when someone makes a bad crypto move.

HODL: Hold on for dear life! Don’t sell your crypto when it dips.

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FUD: Fear, Uncertainty, Doubt. Watch out for this, it’s usually just noise.

GN: Good night!

Vitamin Butane: Playful nickname for Vitalik Buterin. You’ve gotta love the community’s creativity!

WAGMI: We’re all gonna make it. A hopeful mantra for the crypto space.

Probably Nothing: Ironic way to hint that something big might be coming.

RUG: A scam where developers vanish with investors’ money. Stay vigilant!

MOON: When a coin’s value skyrockets.

Shitcoin: A term for coins with little to no value. Be careful with these!

Alpha: Insider info or insights. If you’ve got alpha, you’re ahead of the game.

DYOR: Do Your Own Research. Always!

ATH: All time high.

ATL: All time low.

Flippening: When a smaller coin overtakes a bigger one. Will Ethereum ever flip Bitcoin? Stay tuned!

JOMO: Joy of missing out. Sometimes, it’s good to stay out of risky trades.

FOMO: Fear of missing out. That feeling when you think you should’ve bought in.

APE: Jumping into a new project without much research. Risky, but exciting!

BTFD: Buy the dip! When prices drop, it’s a good chance to buy more.

Bull/Bullish: When the market or a coin is rising.

REKT: When you take a big loss. Ouch!

Crypto Airdrop Slang

Crops: Projects you’re working on.

Farms: Number of wallets you’ve got.

Best Harvest: Selling your airdrops at the peak.

Ok Harvest: Meeting the minimum criteria to get a drop.

And there you have it—a quick guide to navigating the world of crypto! We hope this makes things a bit less intimidating and helps you feel more confident diving in.

🌸 Bookmark this page and check back for updates, as the Web3 space keeps evolving.

Drop us a line or share what you’d like to see added. After all, the crypto community is all about learning, sharing, and growing together. 🫂

For more tips, insights, and updates, make sure to follow us on X( Twittter)—  let’s continue exploring the space together!

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